Company Briefs: Temasek

Singapore investment company Temasek is joining a US$100 million (S$140 million) funding for Animoca Brands, betting on one of crypto's most prolific investment houses, even after a US$2 trillion market meltdown.

Temasek will lead the financing through convertible bonds, said people asking not to be identified discussing private information. It adds to a funding round first announced in January, they said, when the Hong Kong start-up raised US$359 million. Now valued at US$6 billion, Animoca raised another US$75 million in the same round this summer.

BLOOMBERG

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Berkshire Hathaway

Berkshire Hathaway, the investment firm owned by Mr Warren Buffett, has sold 1.33 million Hong Kong-listed shares of BYD - the biggest Chinese electric-vehicle maker - for around HK$370 million (S$65.8 million), according to a filing.

Berkshire reduced its holding to 19.92 per cent, from 20.49 per cent, of BYD's total issued H shares after the sale, the Hong Kong Stock Exchange filing showed yesterday. It is the first confirmation after market speculation that Mr Buffett's company was reducing its multibillion-dollar stake in BYD, which more than tripled its first-half profit from a year earlier.

REUTERS

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Toyota

Toyota Motor said yesterday that its July global vehicle production had fallen 8.6 per cent year on year, missing its target for the fourth straight month, as Covid-19 outbreaks, severe weather and a recall probe - on top of a persistent chip shortage - hurt output.

The sustained weakness in overall performance in July from the world's largest automaker by sales has raised concerns that Toyota may have to lower its annual production target of 9.7 million vehicles, even as China dials back pandemic restrictions and chip shortages show some signs of easing.

REUTERS